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Pertamina pushes Iran for exploration of oil fields

Pertamina pushes Iran for exploration of oil fields
ID : N-144 Date : 2017/08/20 - 11:29

(Persia digest)-  Indonesia’s state-owned oil and gas company Pertamina says it has asked Iran to allow the company to accelerate exploration of two major oil fields in the southwestern Khuzestan province.

Pertamina chief executive officer is confident that the company can explore the two oilfields: Mansouri and Abteymour.

“The process of negotiations has been long. We had asked through the Coordinating Minister for Economic Affairs Darmin Nasution, to accelerate [exploration],” Elia Massa Manik said in a statement, Indonesia's Tempo.co news service reported on Thursday.

Massa said Pertamina will focus on one oilfield first and the second one will be developed after the exploration of the first one is completed. Abteymour and Mansouri oilfields are both near the city of Ahvaz in Khuzestan Province.

"Indonesia needs to explore the oilfields to increase oil supply. Pertamina can help increase the output of the oilfields to 250,000 barrels per day. But we should not rely on it,” he said.

Massa noted that Jakarta is open to new partners to add to the existing ones, adding that Indonesia will take part in more oil exploration projects abroad in the future.

“Negotiations are ongoing. We will have to partner with a local company [in Iran]. We are open to partnership,” he said.

Pertamina signed an MoU with the National Iranian Oil Company (NIOC) last August to conduct joint studies on Mansouri and Ab Teymour fields which contain an estimated total reserve of more than 5 billion barrels.

Pertamina has an ambitious plan to invest in Iran’s oil and gas projects, citing the country as one of its priorities.  

The company imported its first shipment of liquid petroleum gas from Iran late last year after agreeing to purchase 600,000 tons of LPG from NIOC.

With sanctions lifted on Iran’s oil, Tehran plans to add 700,000 bpd to its overall production capacity which it sees to hit 4.7 million bpd by 2021.

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